According to an official statement by InVent, Infinity Levels will use this fund to for global launch of the animal racing game Ranch Run and launch two other titles of the same game in 2015.
Thanapong Na Ranong, vice president of Intouch Holdings PCL, told DEALSTREETASIA that the company had been looking for an opportunity to invest in game developing business for a long time, as the segment is the largest, in mobile applications.
“Infinity Levels Studio is led by two interesting founders. One is Tanapon Petapanpiboon, a successful game developer, who has launched mobile game Candy Meleon that had more than one million downloads. The other is Nikki Assavathorn, a business expert who has been behind many successful startups. When we saw the game ‘Ranch Run’, we knew that it had the potential to succeed at a global level. There was no hesitation in funding them (from our side),” he said.
The seed fund will last the gaming studio for next one and a half year; after that the investors plan to consider the company’s share value before taking the next step, he added.
Ranch Run, the first game application produced by Infinity Levels Studio has been soft-launched in Thailand, Australia, New Zealand and Malaysia and is available on the Apple store. In total, the iOS game app has generated more than 45,000 downloads, mostly from users in Thailand. Ranch Run is scheduled to be available for Android users, globally, next month.
The game has also received a US$2 million bridge-round publishing deal from Thailand-based gaming firm Pocket Playlab.
Infinity Levels Studio is the latest company that InVent gives a support since 2012. Currently, there are four companies funded by InVent, which are Oookbee, Meditech, Computerlogy and Infinity Levels Studio.